All Forum Posts by: Jan Lee

The tenant is a fairly popular seafood restaurant in town that is family run business and has been a good tenant (always paying rent on time, easy to deal with etc). They have been there for over 15 years. They are interested in buying the building which they plan to upgrade. They asks for owner financing.  I would need to pay the bank about 25% of the sales price. What are my risks? What should be the terms the financing?

No, I am not trying to nickel and dime them. I am a new owner and that's what the previous owners had been doing for the past 10 years. I am only trying to verify all the numbers to make sure they comply with the lease terms.

The tenants are supposed to pay 15% of of the operating cost as Admin Fee. My question is whether the property tax should be included as a part of operating cost. The relevant clause is; "the cost and expense of complying with all federal, state and local laws, orders, regulations and ordinances applicable to the Property which are now in force"----> would this includes property tax?

Yes I do know we can collect property tax. I am just wondering whether the property tax should be included in calculating the administrative fee- that the property tax be included as a part of Operating cost.

No I am a landlord and this is for retail NNN commercial property-therefore property taxes are reimbursed by tenants.

Hi
I have a question regarding calculation of Administrative cost. The lease states that the tenant is to pay 15% of "all of the foregoing costs as an administrative expense" under the "operating costs". Would this include the property tax or no? Only possible clause under what is included is "the cost and expense of complying with all federal, state and local laws, orders, regulations and ordinances applicable to the Property which are now in force".
Among the things that are excluded from the operating costs is "taxes on Landlord's business"

Thank you,

Hi,
I own retail condo units which I rent out to various national tenants.
I am in the process of hiring a new property manager and was wondering whether it is generally a good idea to hire the same condo's management company (who manages the residential side of the condo). In the past, relationship between residential and commercial has been ok but sometimes contentious. What would be cons and pros of hiring the Condo's management team to also manage my retail units? Currently the residential condoes are about half sold and the other half are owned by a developer.
Thanks for your advice!